Georgian Exchange Market Stable, Head Of National Bank Says

Business Materials 19 November 2008 11:13 (UTC +04:00)

Georgia, Tbilisi, 19 November / corr Trend N.Kirtzkhalia / "Stability of Georgian exchange market is available as exchange auction, where the National Bank of Georgia (NBG) buy dollars, was held for the fifth time," David Amaglobeli, acting president of NBG, said at the end of a meeting of the Coordinating Council on financial policy.

"It is a part of new rate policy (on achievement of a balance point while regulating a lari rate) and considerable fluctuations will not be observed in the currency market," the head of NBG.

It is dealt with new balance point of national currency and dollar, which totaled 1.65 laris for dollar after fall in exchange. According to NBG, rate will range from 1.62 laris to 1.67 laris per dollar.

"Achievement of stable exchange became possible after entry of additional currency in the country, part of which is directed at fulfilling the currency reserves of NBA and another - currency reserves of public budget," Amaglobeli said.

"International organizations will allocate $110mln to Georgia by 2008," he said.

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